46 Golden Pond

Akron, NY 14001

$41,900B+

2 bd · 1.0 ba · 897 sqft · Built 1987 · Manufactured · Pending · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $900/mo
• Mortgage (P&I): −$220
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$189
• Net cashflow: $458/mo
• Annual: $5,499/yr
• Cap rate: 19.42%
• Cash-on-cash: 46.87%
• DSCR: 3.09
• 1% rule: 2.15%
• Cash to close: $11,732

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $42k.
• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $42k).
• It's been on market 184 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#297 in NY, #4,809 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: employment D+, amenities F, commute F.
• Akron Central School District (town): math 56% / reading 58% proficiency, ranked #272 of 590 in NY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Akron Elementary School (math 47% / reading 57%, grade C-, #988 of 2,108 statewide, top 49%, 562 students, 42% FRL); Akron Middle School (math 37% / reading 57%, grade D+, #315 of 729 statewide, top 45%, 280 students, 44% FRL); Akron High School (math 98% / reading 90%, grade A+, #124 of 1,100 statewide, top 12%, 414 students, 41% FRL).
• Market conditions: 85 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $13k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.4% vs local median 2.4% in Akron — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.